P&C Insurance Key Figures
| Profit before taxes | ||
| Formula shown above in connection with the Group key figures. | ||
| Return on equity (at fair values), % | ||
| Formula shown above in connection with the Group key figures. | ||
| Risk ratio, % | ||
| + | claims incurred | |
| - | claims settlement expenses | x 100% |
| premiums earned | ||
| Cost ratio, % | ||
| + | operating expenses | |
| + | claims settlement expenses | x 100% |
| premiums earned | ||
| Loss ratio, % | ||
| claims incurred | x 100% | |
| premiums earned | ||
| Loss ratio excl. unwinding of discount, % | ||
| claims incurred before unwinding of discount | x 100% | |
| premiums earned | ||
| Expense ratio, % | ||
| operating expenses | x 100% | |
| premiums earned | ||
| Combined ratio, % | ||
| Loss ratio + expense ratio | ||
| Combined ratio excl. unwinding of discount, % | ||
| Loss ratio before unwinding of discount + expense ratio | ||
| Solvency capital (IFRS) | ||
| + | equity after proposed profit distribution | |
| ± | valuation differences on investment | |
| - | intangible assets | |
| + | subordinated loans | |
| - | deferred tax liability probably realised in near future | |
| ± | other required items (Ministry of Finance decree) | |
| Solvency capital, % of technical provision (IFRS) | ||
| + | solvency capital | x 100% |
| + | liabilities for insurance and investment contracts | |
| - | reinsurers’ share of insurance liabilities | |
| Solvency ratio (IFRS), % | ||
| solvency capital | x 100% | |
| premiums earned from 12 months | ||